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Quinn Insurance Limited To Re-enter UK Private Motor Insurance Market For Full Licence Drivers

30th April 2010

Quinn Insurance Limited "QIL" (Under Administration) is pleased to announce that, following a decision by the Financial Regulator, it will be re-entering the UK private motor insurance market for full licence drivers.

This means that we are now open for business for all private motor drivers in the UK (including Northern Ireland) which accounted for a significant majority of our UK business pre-administration.

However the re-entry into full licence drivers incorporates significant pricing changes which we believe will lead to significantly lower volumes than were previously written by QIL in the UK private motor market.

Nonetheless this is an important step in the process of ensuring the return of QIL to a sound financial and commercial footing.

We continue to work with the Financial Regulator in relation to the potential of reopening other business lines.We now look forward to again providing a full range of cover to private motor customers in the UK and especially being in a position to offer renewal terms to existing customers.

The Company would like to acknowledge the support of all stakeholders, in particular our staff, for their efforts over recent weeks as we sought to secure the future of our UK business.

For more information, please contact:
Karl Brophy, Hume Brophy
01 6624712 / 086 044 0253 / karl.brophy@humebrophy.com
Maria Cryan, Hume Brophy
01 6624712 / 086 7749 715 / maria.cryan@humebrophy.com

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